Silverline Technologies to setup JV in Oman

Silverline Technologies Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 08, 2007, inter alia, to consider the following:

1. To setup up a joint venture with Sultanate of Oman for the purpose of setting up IT / ITES / Animation, IT Education and Training Services.

Also to discuss the modalities of JV interms of:

2. The proposed JV's investments, expected to the tune of USD 10 M.

3. To consider the structures for the JV, where in the proposition is to have 51% holdings with the Company and 49% with Local Oman Institutions.

4. To consider the timelines for the project to be operational by Third Quarter of 2007.

5. To work on the structures for the infrastructure requirements to be borne by Omani Partners.

Source : Equity Bulls

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